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Indonesia: Fuel prices set to rise by 30 per cent Thu. May 15, 2008 04:33 am.- By Bonny Apunyu. - (SomaliNet) In what is said to be a reaction to rising oil prices, Indonesia is set to raise fuel prices by as much as 30 per cent on Thursday. Currently, the Indonesian government spends $13.65bn a year subsidizing fuel costs but the budget has been hit hard by the cost of oil. "The government will increase the fuel price by maximum 30 percent,” Finance Minister Sri Mulyani Indrawat said. The government has vowed to protect the poor through cash handouts for families who would be worst hit by the fuel price hike. –Agencies News Category: World Latest Headlines Latest News East Africa threatened by soaring food prices-O... Somalia: 9 civilians killed by Ethiopian soldiers i... Nigerian drug trafficker beheaded in the holy city o... Nigeria: Militant group threatens to attack oil pipe... Philippines to send over 300 soldiers to Liberia for... Nigeria: 12 killed as petrol tanker burst into flame... U.S: Man shoots three people at community college <... Iran: Fresh nuclear talks could resume- says top offi... South Africa: UN boss plans to name SA judge for top... Asia: Jet pilot could face life in prison for ‘delib... More News...